Getting a Loan

قـائـمـة الأوسـمـة · #1

Will you be making a down payment on your new house?

I have ten thousand dollars available for a down payment and I would like to finance the rest.

I have just a few more questions for the application. What is your gross monthly income?

I make $750 a week, so I suppose my average monthly income would be about $3000.

How long would you like the life of the Loan to be?

What are my options?

You can choose between a ten, fifteen, twenty or thirty year loan.

What is the difference between a fifteen year Loan and thirty year loan?

A fifteen year Loan will mean higher monthly payments, but you will pay less interest.

So a thirty year Loan will mean lower monthly payments, but I will end up paying more in the long run?

That is right. Which would you prefer?

I think I would rather pay it off sooner and not pay as much interest.

Then we will sign you up for a fifteen year loan.

What is my interest rate?

Based on your credit report and excellent credit score, your interest rate will be 5.9%.

That is great! Where do I sign?

Just fill out this remaining paperwork and we will get you into your new home.

المصدر: منتدى الخليج